Contingency planning

There are some protective measures that are essentials for all businesses – such as sound financial planning and general insurance cover.

However, there are several issues to consider that could be more perilous. What if an important team member became gravely ill – or died? What if this happened to a shareholder?

Would your business cope with such an event?

At NatWest Independent Financial Services, we offer help with contingency planning – providing a range of services designed to safeguard your business and see it through a difficult time.

Whatever type of business loan you organise, it’s almost certain that you will be required to arrange suitable life cover. This is definitely the case if you’re funding a Management Buy Out or another acquisition.

We have made it simple to get sufficient life insurance in place. Just ask your Independent Financial Planning Manager for a tailored risk analysis for your business, or call our dedicated fast track telephony team on 0800 33 11 01.

Get in touch and your business requirements will be handled promptly with the minimum of fuss.

Imagine the long-term or permanent absence of a managing director with immense business experience. A sales director with intimate knowledge of your market place. Or a technical specialist operating at the sharp end of your product development.

The vital question is - can you survive without such crucial people?

With keyperson insurance, your business is protected against the possible loss of profit caused by the death or disability of a named important individual. With this cover, your business will be cushioned from such a misfortune – preserving financial security and staff employment.

Can you afford not to be protected?

Have you considered what could happen to the shares in your business should one of the major shareholders pass away, or become too ill to contribute any further?

It’s possible that an important shareholding could pass to someone who may not act in your best interests. The potential outcome could include:

• You are obliged to dissolve a partnership.
• You are forced to sell assets to repay a partner’s shares.
• Your business is partly owned by disinterested or hostile people.
• Your staff, customers, suppliers and financial supporters lose confidence in your business.

The ultimate result is that difficult circumstances become absolutely intolerable.

If the worst occurs, our cover would provide appropriate funds, trusts and draft option agreements to enable a buy-out of the shareholding in question.

Shareholder protection not only defends your business, it also provides for dependants – who would receive an agreed sum.

Should an important person in your team die, your ability to continue repaying a business loan could be seriously impaired.

Loan protection could help – providing vital cover for the business.

On the death of a key person, a lender could opt to withdraw a loan and ask for its total and immediate repayment. This would clearly have serious repercussions for your business.

Family and dependants could be faced with severe financial difficulties, including the peril of losing their home at a stressful time.

Choose NatWest Independent Financial Services, and you are sourcing your loan protection through a name you can trust.